Retail sales rebound in March
After three continuous months on the decline, U.S. retail sales made a turnaround and increased 0.6% in March, the Commerce Department reported.
Excluding automobile, gasoline, and restaurant sales, retail sales were 0.3% seasonally adjusted over February and 5% year-over-year. Total retail sales have increased 4.5% year-over-year.
“This is a healthy spending report despite market volatility, unseasonable weather and uncertain economic policies,” NRF Chief Economist Jack Kleinhenz said. “Consumers continue to show resiliency in spending, and these numbers reflect how the economy is performing with a strong job market, gains in wages, improvements in confidence, rising home value and judicious use of credit.”
Building materials and garden supply stores rose 3.8% year-over-year but fell 0.6% from February seasonally adjusted.
Sales at General merchandise stores increased 6.3% year-over-year and are up 0.3% from February seasonally adjusted.
Online and other non-store sales grew 7.6% year-over-year and are up 0.8 percent over February.
Excluding automobile, gasoline, and restaurant sales, retail sales were 0.3% seasonally adjusted over February and 5% year-over-year. Total retail sales have increased 4.5% year-over-year.
“This is a healthy spending report despite market volatility, unseasonable weather and uncertain economic policies,” NRF Chief Economist Jack Kleinhenz said. “Consumers continue to show resiliency in spending, and these numbers reflect how the economy is performing with a strong job market, gains in wages, improvements in confidence, rising home value and judicious use of credit.”
Building materials and garden supply stores rose 3.8% year-over-year but fell 0.6% from February seasonally adjusted.
Sales at General merchandise stores increased 6.3% year-over-year and are up 0.3% from February seasonally adjusted.
Online and other non-store sales grew 7.6% year-over-year and are up 0.8 percent over February.